Citigroup fined for telling clients to buy when it meant sell

Citigroup Inc. will pay $11.5 million to resolve Financial Industry Regulatory Authority claims that a brokerage unit harmed retail customers by displaying inaccurate research ratings for hundreds of securities for nearly five years.

Citigroup Global Markets Inc. showed incorrect ratings -- such as "buy" instead of "sell" -- to brokers, customers, and supervisors on 38 percent of the equities covered by its research department from February 2011 to December 2015, FINRA said in a statement on Thursday.

Errors in an electronic feed of data provided to a clearing firm caused the incorrect ratings, FINRA said. Citigroup failed to correct the problems despite numerous red flags and failed to conduct sufficient testing to verify its ratings data, the regulator said. ...

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.